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ashleyr1819 ashleyr1819
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5 years ago
In order to determine if, in substance, a complex financial instrument is debt, the answer should
be yes to all of the following except:
A) Is the periodic return on capital obligatory?
B) Is the debtor legally obligated to repay the principal at a fixed rate?
C) Is the amount convertible into common shares?
D) Is the debtor legally obligated to repay the principal at the option of the creditor?
Textbook 
Intermediate Accounting, Volume 2

Intermediate Accounting, Volume 2


Edition: 5th
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hiitsskyhiitssky
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5 years ago
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ashleyr1819 Author
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5 years ago
Brilliant ツ
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Helped a lot
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